The following cost information is provided to you pertaining to ABC Inc's most recent accounting period: Beginning inventory for Finished Goods Ending inventory for Finished Goods Cost of Goods Manufactured during the period $200,000 $600,000 ABC had sales of $1,000,000 during its most recent accounting period. Assuming that there was no over or under-allocated overhead, what was ABC's gross profit percentage for its most recent accounting period? Select one: 0 a. 60% b. 50% C. 40% 0 d. 100%